Circular Economy

Albert Liao
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Albert Liao: Foxconn Industrial Internet

Chapter Chapter 15 in Warranty Chain Management, 2022, pp 375-399 from Springer

Abstract: Abstract The term “circular economy” refers to the maximization of resource utilization by mitigating, containing, and reducing the cycle of resources so that the input, waste, and emissions of resources can be minimized to reduce the environmental impact. Resource utilization, eco-economy, eco-efficiency, sustainable designs, lean manufacturing, and product life cycle management can all be considered action plans for a circular economy. A circular economy represents zero emissions, zero waste, whereby by-products or damaged products generated in the manufacturing process and materials deemed no longer necessary are recycled and not relegated to “waste” but serve as raw materials and feedstock for a new production cycle.

Date: 2022
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DOI: 10.1007/978-981-19-2104-9_15

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